Kayne Anderson Rudnick Investment Management LLC Has $187.98 Million Stake in Armstrong World Industries, Inc. (NYSE:AWI)

Kayne Anderson Rudnick Investment Management LLC trimmed its holdings in Armstrong World Industries, Inc. (NYSE:AWI - Free Report) by 0.6% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 1,330,071 shares of the construction company's stock after selling 8,634 shares during the period. Kayne Anderson Rudnick Investment Management LLC owned 3.05% of Armstrong World Industries worth $187,979,000 as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors have also made changes to their positions in AWI. Principal Securities Inc. raised its holdings in Armstrong World Industries by 11.1% in the 4th quarter. Principal Securities Inc. now owns 2,751 shares of the construction company's stock valued at $389,000 after acquiring an additional 274 shares in the last quarter. Pictet Asset Management Holding SA increased its position in shares of Armstrong World Industries by 8.0% in the fourth quarter. Pictet Asset Management Holding SA now owns 6,184 shares of the construction company's stock worth $874,000 after purchasing an additional 456 shares during the period. SG Americas Securities LLC raised its stake in Armstrong World Industries by 639.8% in the fourth quarter. SG Americas Securities LLC now owns 7,228 shares of the construction company's stock valued at $1,022,000 after purchasing an additional 6,251 shares in the last quarter. Blue Trust Inc. lifted its position in Armstrong World Industries by 11.4% during the fourth quarter. Blue Trust Inc. now owns 1,591 shares of the construction company's stock worth $209,000 after purchasing an additional 163 shares during the period. Finally, Envestnet Portfolio Solutions Inc. grew its stake in Armstrong World Industries by 7.9% during the fourth quarter. Envestnet Portfolio Solutions Inc. now owns 7,565 shares of the construction company's stock worth $1,069,000 after buying an additional 555 shares in the last quarter. 98.93% of the stock is currently owned by institutional investors.

Analyst Upgrades and Downgrades

Several equities analysts have recently commented on the stock. StockNews.com cut shares of Armstrong World Industries from a "buy" rating to a "hold" rating in a research report on Thursday, March 6th. Truist Financial upped their target price on Armstrong World Industries from $162.00 to $175.00 and gave the stock a "buy" rating in a research note on Thursday, February 27th. The Goldman Sachs Group lifted their price target on Armstrong World Industries from $163.00 to $180.00 and gave the company a "buy" rating in a research note on Friday, February 28th. Finally, UBS Group upped their price objective on Armstrong World Industries from $150.00 to $158.00 and gave the stock a "neutral" rating in a research report on Wednesday, February 26th. Five investment analysts have rated the stock with a hold rating and two have assigned a buy rating to the stock. According to data from MarketBeat, Armstrong World Industries has an average rating of "Hold" and a consensus price target of $153.33.

Armstrong World Industries Trading Up 3.2 %

Shares of NYSE:AWI traded up $4.23 during midday trading on Thursday, hitting $138.34. 425,472 shares of the stock were exchanged, compared to its average volume of 272,848. The business's 50-day moving average price is $141.46 and its 200 day moving average price is $145.75. Armstrong World Industries, Inc. has a 12 month low of $110.68 and a 12 month high of $164.40. The company has a debt-to-equity ratio of 0.78, a quick ratio of 1.11 and a current ratio of 1.64. The stock has a market capitalization of $6.01 billion, a price-to-earnings ratio of 24.40, a P/E/G ratio of 1.60 and a beta of 1.20.

Armstrong World Industries (NYSE:AWI - Get Free Report) last posted its earnings results on Tuesday, February 25th. The construction company reported $1.50 earnings per share for the quarter, topping analysts' consensus estimates of $1.37 by $0.13. The firm had revenue of $367.70 million for the quarter, compared to analyst estimates of $364.98 million. Armstrong World Industries had a net margin of 17.95% and a return on equity of 40.67%. The company's revenue for the quarter was up 17.7% compared to the same quarter last year. During the same period in the previous year, the firm posted $1.22 EPS. Analysts predict that Armstrong World Industries, Inc. will post 6.18 earnings per share for the current year.

Armstrong World Industries Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Thursday, May 22nd. Shareholders of record on Thursday, May 8th will be issued a dividend of $0.308 per share. This represents a $1.23 annualized dividend and a yield of 0.89%. The ex-dividend date of this dividend is Thursday, May 8th. Armstrong World Industries's payout ratio is presently 20.40%.

Armstrong World Industries Profile

Armstrong World Industries, Inc, together with its subsidiaries, engages in the design, manufacture, and sale of ceiling and wall solutions in the Americas. It operates through Mineral Fiber and Architectural Specialties segments. The company offers mineral fiber, fiberglass wool, metal, wood, felt, wood fiber, and glass-reinforced-gypsum; ceiling component products, such as ceiling perimeters and trims, as well as grid products that support drywall ceiling systems; ceilings, walls, and facades for use in commercial settings; and manufactures ceiling suspension system (grid) products.